Category: Chancellor
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Sir Steve Webb, Partner at LCP and former Pensions Minister and MP very kindly had a chat with me about surplus extraction. I set out a summary of this fascinating interview below. 😊 PG: What are the government’s stated and unstated aims in allowing surplus extraction? Steve: The process started under the last government, and…
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I was kindly invited to speak about DC reform at the Association of Consulting Actuaries annual conference last week in Manchester. As I was putting my slides together I came across an interesting point which was that three recent DC policy reform strands overlap with each other in scheme investment in UK businesses and infrastructure.…
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I imagine that many of us greet news about DB scheme surplus extraction with “what does this mean? Is it dangerous? Surely taking money out of DB schemes is bad for members and an unfair treatment of their contributions?” At least, that’s what I thought at first. So I have done a little research in…
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According to the Financial Times, Rachel Reeves has announced that the adequacy element of the pensions review is going to be put on hold. The rationale is that a review of adequacy could result in pension contribution increases that would force employers to spend “billions of pounds” more on pensions. The Government is concerned that…